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Shoppers seem to be attracted to value

While we have seen many shoppers attracted to cheaper food produce across the supermarket sector it would appear that this particular trend is being repeated on the high street. Privately owned fashion group Peacocks has confirmed a 15.2% increase in sales in the fourth quarter of 2008 at a time when the vast majority of the UK retail sector were struggling. Peacocks is one of the leading value led clothing retailers on the high street and the significant increase in sales has surprised many.

Interestingly the company has also reported a strong start to 2009 with a positive response from the new range of clothing due out in spring/summer. Indeed an 8.3% increase in sales in the 14 week period to March 28 further reiterates the fact that the company appears to be attracting significant new business with consumers apparently looking for better value on the high Street.

This move comes at a time when the likes of Marks & Spencer and some of the higher value retailers are struggling to retain profit margins and attract new business. While recent results from Marks & Spencer were significantly better than analysts had expected there was still a substantial fall in sales and pricing pressure was evident.

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